Trump founds digital currency reserve-Bitcoin course in free fall!

Trump founds digital currency reserve-Bitcoin course in free fall!

USA - Donald Trump has ordered the formation of a US reserve for digital currencies. This decision met with lively interest in the financial world because it could redesign the relationship between the US government and the cryptocurrency industry. According to ZVW , the reserve units of the cryptocurrency Bitcoin are already in the possession of the US government. The exact number is estimated at around 200,000 units, which means a value of over $ 17 billion in a current Bitcoin course of $ 88,102.

The US digital currency officer David Sacks stated that the Ministry of Commerce and Finance is entitled to obtain further Bitcoin for the reserve, but should not incur any additional costs for taxpayers. In addition to Bitcoin, the storage of other digital currencies such as Ethereum and Solana is also promised, but the government is not planning to actively expand these stocks.

Current market development

The announcement of these measures led to a significant price movement in Bitcoin: After the announcement, the course fell to less than $ 90,000. The night before, Bitcoin had even fallen under $ 85,000. This volatility is not new to the market, which had fallen from over $ 96,000 to less than $ 80,000 in the last week, which was influenced, among other things, by international trade disputes.

Investors had hoped for the creation of a US digital currency reserve to establish a stronger connection between the government and the crypto industry. Market researcher of Mordor Intelligence estimate that the 2023 cryptocurrency market has reached a size of around 1,330.43 billion US dollar and is expected to be used in the forecast period from 2024 to 2029 an average annual growth rate of 30.40 % will grow.

The fastest growth rates await experts in North America, while Europe, the Middle East and Africa impress the largest market share. However, the regulatory framework seems to be a critical factor that influences the integration of cryptocurrencies into existing financial systems. These challenges could affect consumer confidence and future market.

Trump, who had been positive about digital currencies in the past, could not only help shape the market conditions with this new reserve initiative, but also to bring about a thematic change compared to the restrictive attitude of the current bidue government. Observers will continue to follow the developments and their effects on the markets.